Gannett shares up, thanks to strategic plans
Posted by Leah McBride Mensching on December 14, 2009 at 12:01 PM
Gannett Co. shares were up
5.4 percent (71 cents) today, after a Benchmark Co. analyst upgraded
the stock, noting the U.S. newspaper publisher's stronger management
strategy, The Associated Press reported.
"With solid franchises in small local newspaper markets in the U.S. and UK, and ongoing efforts to expand content through new print and new media products, we believe Gannett is well positioned to weather the prolonged downturn in the newspaper publishing industry," wrote analyst Edward Atorino. He raised his rating from "Hold" to "Buy," and increased his price target from US$16 to $18.
"With solid franchises in small local newspaper markets in the U.S. and UK, and ongoing efforts to expand content through new print and new media products, we believe Gannett is well positioned to weather the prolonged downturn in the newspaper publishing industry," wrote analyst Edward Atorino. He raised his rating from "Hold" to "Buy," and increased his price target from US$16 to $18.
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